Discussion and possible action to approve, by Order, the following budget amendment (line item transfer) to transfer funds between General Fund and Debt Service Fund, Local Government Codes 111.070 and 111.0705. [Funds 1001 and 4100]
Acct. Number
Acct. Name
Adopted
Request
Current
End Bal.
From:
1001-259700
Fund Balance
$1,100,000
To:
1001-9080-001-485005-065
Transfer Out- Debt Service
$1,411,811
$1,100,000
$1,411,811
$2,511,811
Issue: Budget line item transfer is needed to transfer funds out of General Fund to Debt Service in order to cover first payment for County cash contribution for Certificates of Obligation, Series 2020.
Solution: With Court approval of budget amendment, transfer of funds will be available in Debt Service to cover first payment.
Result: There will be sufficient funds to cover County cash contribution first payment for Certificates of Obligation, Series 2020.